we will ensure that you receive the best advice

We have many years experience of advising dentists. Our experience with practices in both the NHS and the private sector means that we have detailed knowledge of specific accounting issues relating to dentists. We will ensure that you receive the best advice. Our particular areas of expertise include:


accounts

You need to be able to monitor the practice’s performance without spending a lot of your valuable time getting the information together. We can assist you in establishing/tailoring your systems so that this management information is readily available in the best format for you. Of course we will provide you a comprehensive set of annual accounts detailing your practice’s performance and we will meet with you to discuss them to help you in reaching conclusions about ways to improve in the future.


employment issues

If you employ associates we can help you understand how profitable they are to you and if necessary help you to determine a more profitable arrangement.

If you are a self employed associate, you may need guidance on keeping records, and advice on claiming for business expenses and paying your tax liabilities.

Can you treat your hygienists as self-employed rather than employed, so avoiding putting them on the payroll? This is not straightforward and you need to take professional advice before progressing with this.


practice management

If you considering obtaining or restructuring finance for the practice / partners we can review what is available and introduce you to potential lenders. Through careful planning it may be possible for you to obtain tax relief on your borrowings which we have done many times in the past.


other partnership issues

We can assist you in drafting partnership agreements, with partnership negotiations and with dispute resolution. You may have issues with the ongoing running of the practice, or perhaps succession planning for new partners or retiring partners, including the structuring of a deal. We can assist you in all these areas.


financial issues

Do you plan for future tax payments? We will calculate these and advise you well in advance of the payment dates, to help you plan the practice’s cashflow. In some cases, our clients prefer that we make provision for future tax liabilities in their accounts, reflected in partners’ drawings. This helps them monitor drawings and avoids partners drawing excessive amounts, not leaving enough to cover their tax payments.


your retirement

Are you aware currently what your projected benefits will be on retirement? This is something to check sooner rather than later. We can advise you of the effect on your future benefits of buying added years or making additional voluntary contributions. You may also wish to consider making pension contributions based on your private income. You may be wasting valuable tax relief!

Please contact us to find out how we can help you and your business. Contact us